For IPOs, an Up-and-Down Year

By

Telis Demos

Updated Jan. 1, 2013 3:26 p.m. ET

Emerging markets and U.S. software and housing stocks powered a jump in fourth-quarter initial public offerings, but it wasn't enough to stave off a decline in activity compared with the previous year.

The drop in 2012 was driven by slowdowns in China and Europe, which offset a rise in the U.S. In 2011, 1,277 companies went public globally, raising $159.8 billion. In 2012, only 751 companies made initial offerings, raising $113.1...